- Associated Press - Tuesday, August 2, 2016

SCHAUMBURG, Ill. (AP) - A developer has purchased 225 acres of the former Motorola Solutions campus in suburban Chicago.

The (Arlington Heights) Daily Herald reports (https://bit.ly/2afliYy ) that UrbanStreet Group plans a hotel, offices, retail space and housing for the parcel in Schaumburg. It will finalize its plan in the next six months.

Bob Burk is UrbanStreet managing partner. He says the space presents “a unique opportunity for repositioning.”

Motorola Solutions has now sold nearly all of its once-sprawling suburban campus. It will keep 1,600 workers in two buildings being remodeled. The company announced moving its headquarters to Chicago last fall.

UrbanStreet will work with Chicago-based Trilogy Investments to redesign its parcel in a multiyear project.

Zurich North America and Oak Street Real Estate Capital bought other chunks of the campus.


Information from: Daily Herald, https://www.dailyherald.com

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